Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund

Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund

SACRAMENTO, Calif. (KABC) -- California needs to pay an additional $4.5 billion a year for the next three decades to shore up its teacher retirement fund, according to a report released by the state's nonpartisan budget analyst.

The Legislative Analyst's Office declared that the California State Teachers' Retirement System "may be the state's most difficult fiscal challenge" and suggested that tackling the shortfall is perhaps more important than other state debts.

The bulk of that additional money will likely have to come from taxpayers because investments and teacher contributions aren't enough.

The report was presented to lawmakers Wednesday during a hearing on ways to address the pension fund's unfunded liability.

Re: Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund

those are insane numbers , amazing

Quoting: JUST HERE

With a population of about 37,000.000 that comes to roughly $37,000 per man. woman and child. And of course we haven't allowed for all the other city, state and county workers. Judges, politicians, etc.

Re: Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund

those are insane numbers , amazing

Quoting: JUST HERE

With a population of about 37,000.000 that comes to roughly $37,000 per man. woman and child. And of course we haven't allowed for all the other city, state and county workers. Judges, politicians, etc.